Introduction Into Buiness- Buiness Sectors

Question 1

Distinguish between primary, secondary and tertiary organisations

Answer 1

Primary- the extraction raw materials
Secondary- the processing of raw materials into finished and unfinished goods
Tertiary- the provision of services

Question 2

Distinguish between private, public and third sector organisations

Answer 2

Private-organisations are owned by individuals, are driven by profit.
Public-organisations are owned by the government for the benefit of the community.
Third sector- non-profit organisation charity eg OxFam

Question 3

Distinguish between local, national and international/global

Answer 3

Local- operates in a small geographical area, usually has the same number of customers eg a corner shop
National- operates to their national consumers, has a large amount of consumers of a similar variety eg Lloyds bank
International - operates in the global economy, sells to multinational customers eg McDonalds

Question 4

Distinguish between a national and multinational business

Answer 4

National-doesn’t do international investment, produces in one country, sells to one national demographic
Multinational- does international investment, can produce in different countries , sells to multiple national demographics